Licensing & Concessions

Gambia to market oil blocks disputed by African Petroleum

November 10, 2017 | Government & Regulations, Licensing & Concessions, West Africa

London, UK | – Gambia plans to market two offshore oil blocks that African Petroleum says it still legally holds, the country’s minister of justice said on Friday. Norwegian-listed African Petroleum said in October it had launched arbitration proceedings against the Gambian government to defend its exploration rights. Licenses for the two blocks expired in September 2016 but the oil company had been in talks with the government until earlier this year to extend the exploration period. African Petroleum has previously said the terms of …

Tullow Oil awarded four licences in Côte d’Ivoire

October 13, 2017 | Company Operations, Côte d'Ivoire (Ivory Coast), Licensing & Concessions

London, UK | – British African-focused  multinational oil and gas exploration company, Tullow Oil Plc has announced that it has acquired 90% stakes in four onshore blocks in Côte d’Ivoire. Petroci, the national oil company of Côte d’Ivoire, holds the remaining 10%. The four blocks – CI 518, CI519, CI301 and CI302 – cover 5,035 km2 and located on the coastline of Côte d’Ivoire mostly to the west of Abidjan. Tullow believes that this acreage will complement the Group’s existing exploration portfolio as the blocks are …

Egypt prepares to handle first state-owned IPO in 12 years

July 06, 2017 | Egypt, Government & Regulations, Licensing & Concessions

Cairo, Egypt | – Egypt has picked a consortium led by CI Capital to act as lead managers and bookrunners for a stock market listing of oil company Engineering for the Petroleum and Process Industries (ENPPI), the country’s first initial public offering (IPO) of a state-owned company in 12 years. The consortium also includes Jefferies International Limited and Emirates NBD Capital Limited, the Investment Ministry said on Wednesday. The government is launching an IPO program that will offer shares in dozens of state-owned companies over …

Uganda to finalize oil exploration deal with Nigeria’s Oranto Petroleum

June 21, 2017 | Exploration / Discoveries, Licensing & Concessions, Uganda

London, UK | – Uganda is set to sign two oil production sharing agreements with a Nigerian oil firm, enabling the company to begin exploration work, the government said on June 14. The signing is expected on June 15. The firm, Oranto Petroleum International, was among a number of companies that bid in the country’s first competitive oil exploration licensing round last year, with two other Nigerian firms and Australia’s Armour Energy also getting through to final negotiations for the award of the PSAs. The …

Angola’s Sonangol cancels auction for eight oil blocks

May 19, 2017 | Angola, Commodities & Oilprice, Licensing & Concessions

London, UK | –  Angola’s state oil company Sonangol has cancelled an auction of oil exploration licences for eight blocks, blaming the drop in oil prices since the bidding opened. “The remarkable drop in the price of the oil barrel and the economic and financial situation of the country and the world, have negatively influenced the viability of the oil concessions,” Sonangol said in a statement. The round includes five blocks in the Kwanza basin and three on the Lower Congo. Sonangol said the new …

Royal Dutch Shell does U-turn on Nigerian exploration licence

April 13, 2017 | Legal, Licensing & Concessions, Nigeria

London, UK | — Royal Dutch Shell Plc said it knew some of the $1.1billion paid to the Nigerian government in 2011 for an exploration licence would go to a company linked to the country’s former oil minister, changing its previous stance on a deal that’s under investigation for alleged corruption. The Anglo-Dutch oil company reiterated that its joint purchase of the licence with Eni was “fully legal” and that it paid no money to Dan Etete or his company Malabu Oil and Gas Ltd. …

Egypt signs three offshore oil and gas deals for mediterranean blocks

December 30, 2016 | Egypt, Licensing & Concessions

Cairo, Egypt |  – Egyptian Oil Minister Tarek El Molla has signed three offshore oil and gas E&P deals worth a total of at least $220 million with France’s Total, Britain’s BP Plc and Italian oil major Eni’s Egyptian subsidiary IEOC, the ministry said on Dec. 27. The deals include drilling for six wells and a signing bonus of $9 million, the ministry said in a statement, and are the result of a tender called by Egyptian state gas board EGAS. They are all in …

Total and Tullow Oil secures 8 Uganda oil production licences

August 31, 2016 | Licensing & Concessions, Uganda

Kampala, Uganda | – Uganda has issued eight oil production licenses to two firms, British Tullow Oil and France’s Total as it moves to speed up its export plans. On Tuesday, Tullow was allotted five licences while Total got three, bringing the total permits issued to nine after the Uganda handed one to the Chinese National Offshore Oil Company (CNOOC) in 2013. The country has set a target of 2020 for its oil to begin flowing from the 6.5 billion barrels of reserves confirmed so …